Medvedev confirms guarantees of credit to fund SSJ-100

The directive envisages the provision of guarantees to the SCA to an aggregate amount of $1 billion on a credit borrowed from the Vneshekonombank

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MOSCOW, September 16 (Itar-Tass) - Prime Minister Dmitry Medvedev has issued a directive confirming rules for the provision of state guarantees in 2013 on a credit drawn by the Sukhoi Civil Airliners (SCA) Company, the government’s press service reported.

The directive envisages the provision of guarantees to the SCA to an aggregate amount of $1 billion on a credit borrowed from the Vneshekonombank for the purposes of fulfilling obligations on credits and loans drawn earlier to finance a program for quantity production of the Sukhoi Superjet-100 (SSJ-100) airliners.

In accordance with the principles for giving state-guarantee support, formulated in the Basic Orientations for Russia’s Debt Policy in the 2013-'15 period, the directive determines a procedure and terms for the provision of guarantees, the purpose of credit resources borrowed from Vneshekonombank, and measures to monitor the targeted use of the resources. The use of credit resources safeguarded by State guarantees for the payment of rewards to the managerial personnel is prohibited.